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Senate Bill Would Tighten Payday Lending Laws

payday_loans.jpg

Associated Press

You see them on every street corner in Nevada – short-term, high-interest loan businesses, also known as payday loans.

Nevadans for the Common Good estimate that there are more payday loan centers in Nevada than Starbucks and McDonalds combined.

The businesses give cash advances, often at a high rate that can be difficult to pay down.

Now, lawmakers want to limit what lenders can charge customers.

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Yvanna Cancela, Nevada state senator; Benjamin Edwards, associate professor of law, UNLV

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KNPR's State of Nevada
Oct 10, 2005

Payday Loans

KNPR
KNPR's State of Nevada